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Cryptocurrency prices today surged even as Bitcoin was trading below $57,000. The world's largest and most popular cryptocurrency surged marginally to $56,586Bitcoin price had recently hit record high of around $69,000 and is up over 95% this year (year-to-date or YTD) so far. Meanwhile, global crypto market cap gained marginally to $2.74 trillion, as per CoinGecko.

"Bitcoin corrected moderately to settle below $57,000. However, the position of BTC looked strong based on the chart pattern. The daily trend continued to indicate a Cup & Handle formation. We could see a bullish cycle in Bitcoin soon with investors piling up the token below $60K," said Siddharth Menon, COO of WazirX.

On the other hand, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, also rose marginally to $4,539. Dogecoin price gained over 1% to $0.20,as per CoinDesk. Other cryptos like Litecoin, XRP, Polkadot, Uniswap, Cardano, Solana, Polygon were also trading with gains over the last 24 hours.

"Polygon(MATIC), the infrastructure development and scaling platform for Ethereum, is partnering with GameOn Technologies to bring NFT games to its clients thereby increasing its usage in the gaming space. On the daily timeframe, MATIC is seen to traverse within a triangle pattern. A breakout from this pattern could see MATIC making new highs. We expect resistance at 2.15 levels," Menon added.

(With inputs from agencies)

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